In the midst of all the transfer mania over the last few days, Martin Hardy of The Times has provided an interesting and potentially major update on our summer spending ability.
According to the North-East correspondent, we are “set to announce a series of sponsorship deals in the coming weeks,” which will give our summer budget another huge boost and enhance turnover at the club, which grew to £250 million in the most recent accounts.
The commercial partnerships we have struck are not stated in the essay, but this is exactly what we needed to hear in our ongoing battle with FFP/PSR laws. Increased revenue streams mean more money to spend and less need to sell our top players.
Hardy adds that we are due £37m from our participation in the UEFA Champions League, while lucrative deals with Adidas – who will become our official kit manufacturer for the 2024/25 season onwards – and front of shirt sponsor Sela will also be factored into next year’s accounts, giving us more wiggle room to spend this summer.
With all of this in mind, it makes you wonder if a portion of our summer budget could be brought forward over the final 10 days of the January window, should the right player become available at the right price.
The bulk of our spending in 2024 is bound to take place this summer, where player trading will be a theme, but with £400m spent since the PIF takeover and FFP hampering our ability to make signings this month, a raft of new sponsorship deals will be a timely boost and will be one to watch in the coming weeks.